Current Use by Public Records
- Hospitality properties
Property Details for 601 Us-24
- Year built
- 2010
- Property type
- Hospitality properties
- Property subtype
- Hotels
Description
This exceptional 81-key Holiday Inn Express & Suites in Topeka, Kansas, presents a compelling value-add investment opportunity. Built in 2010 and boasting a recently completed Formula Blue PIP, this four-story hotel is offered at under $105,000 per key—a significant 30% discount compared to new construction costs. Strategically located on busy US-24, just west of NW Topeka Blvd, it enjoys convenient access to downtown Topeka, the state capitol, and the Kansas Expocentre. The property benefits from a strong local economy driven by state government, manufacturing (including major facilities like Goodyear, Hill's Pet Products, and JM Smuckers), medical, insurance, and other sectors. Topeka's diverse economy and historically strong hospitality market provide a solid foundation for sustained performance. The hotel features 41 executive suites of various types, a fitness center, indoor pool, and a 600-square-foot meeting room. Recent additions of retail establishments like Starbucks and IHOP in the immediate vicinity further enhance its appeal. With a new 15-year license available and minimal competition, this hotel offers significant upside potential for investors seeking a high-return asset in a thriving Kansas market. The property is approximately one hour from Kansas City International Airport, providing easy access for travelers. The asking price is $8,500,000.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Topeka
- County
- Shawnee
- State
- Kansas
- Longitude
- -95.67
- Latitude
- 39.0899
